Numis reiterated its “hold” rating, following an “unexpectedly strong” operating profit in the third quarter, up 23 per cent. The broker said the group “should continue to show solid operating progress despite the weaker than expected trend in UK deaths”.
Cantor Fitzgerald reiterated its “hold” rating ahead of the company’s interim results, to be announced tomorrow. The broker said it expected Sainsbury’s to cut its dividend and said investors would need further reassurance on full-year profits and the UK trading strategy.
Westhouse Securities reiterated its “neutral” rating, and said Meggitt’s third-quarter statement had combined a “small organic growth spike and a buy-back that allayed capital allocation fears”. The broker also noted “yet another trim to top-line growth expectations”.